S&P 500 E-minis trade 0.4% lower; Nasdaq futures fall 0.5%

S&P 500 E-minis trade 0.4% lower; Nasdaq futures fall 0.5%

S&P 500 E-Minis and Nasdaq Futures Decline Amid Geopolitical and Economic Concerns

As of February 22, 2026, U.S. stock futures pointed to a lower open for major indices, with S&P 500 E-mini futures trading 0.4% lower and Nasdaq 100 futures down 0.5%. This follows a mixed recent performance, including a reversal in Friday's (February 21) session after initial gains driven by a Supreme Court ruling limiting former President Trump's tariff authority.

The decline reflects renewed investor caution amid escalating U.S.-Iran tensions and concerns over the private credit sector. On Friday, the S&P 500 and Nasdaq Composite had risen sharply following the court's decision, which invalidated Trump's broad tariffs under the International Emergency Economic Powers Act. However, markets retreated as investors weighed geopolitical risks and data showing a stronger-than-expected rise in the core personal consumption expenditures (PCE) index, a key Federal Reserve inflation gauge.

Earlier in the week, equity futures had trended higher, with S&P 500 E-mini contracts up 0.5% and Nasdaq 100 futures rising 0.6% on February 20 amid broader market optimism. That momentum reversed by February 22, as fears of a potential "10% global tariff" replacement policy and volatility in the private credit sector— sparked by Blue Owl Capital's withdrawal halt—heightened uncertainty.

The S&P 500 E-mini futures contract, which tracks the broad-based index of 500 large-cap U.S. companies, remains a key barometer for market sentiment. Traders are now monitoring upcoming economic reports and central bank policy signals for further direction.

Investors are advised to stay attuned to evolving geopolitical developments, inflation data, and sector-specific risks as markets navigate a fragile risk-rebalance phase.